How is Property Tax Determined?
A number of factors go into determining your yearly property tax rate:
- The annual budget for City services; which includes things like funding Police, Fire and Ambulance Service, Roads, Sidewalks, Transit, Parks, Trails, Museums, Recreation Centres, Libraries, and all City programs and services;
- Provincial taxes (to fund education);
- Your property value which is assessed every four years by MPAC.
Check out this short video about residential property taxes: